BNP Paribas Sells 650 Shares of Delta Air Lines, Inc. (NYSE:DAL)

BNP Paribas trimmed its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 38.1% during the third quarter, HoldingsChannel reports. The fund owned 1,058 shares of the transportation company’s stock after selling 650 shares during the quarter. BNP Paribas’ holdings in Delta Air Lines were worth $54,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in Delta Air Lines during the 3rd quarter worth approximately $25,000. Kimelman & Baird LLC bought a new stake in Delta Air Lines during the 2nd quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new stake in Delta Air Lines during the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC bought a new stake in Delta Air Lines during the 2nd quarter worth approximately $36,000. Finally, Unique Wealth Strategies LLC bought a new stake in Delta Air Lines during the 2nd quarter worth approximately $40,000. 69.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock worth $8,044,893 over the last quarter. 0.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a research note on Friday, November 15th. Sanford C. Bernstein upped their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Susquehanna upped their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. Finally, Citigroup boosted their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and an average price target of $75.83.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $63.60 on Thursday. The firm has a 50-day moving average of $56.08 and a 200-day moving average of $49.37. The company has a market cap of $41.04 billion, a P/E ratio of 8.83, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. Delta Air Lines, Inc. has a one year low of $35.46 and a one year high of $66.25.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. Equities research analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.94%. Delta Air Lines’s payout ratio is currently 8.33%.

Delta Air Lines Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.